Govt. seeks company to market Guyana’s crude oil

Sep 22, 2023 ExxonMobil, News, Oil & Gas

Kaieteur News – The Ministry of Natural Resources (MNR) has recently issued an invitation for bids, signaling its intent to find a new company to market Guyana’s oil from the Liza Destiny and Liza Unity Floating Production Storage and Offloading (FPSO) vessels.

This move aims to competitively market and maximize the value of the Government’s crude oil entitlement from developments in the Stabroek Block while fostering a competitive market for the Liza, Unity Gold, and Payara Gold Blends.

In the past, Guyana had entrusted the marketing of its crude oil to a prominent international oil company, BP International Limited, a subsidiary of British Petroleum following the initial discoveries of substantial oil reserves in the Stabroek Block.

The decision to seek a new company for oil marketing is part of Guyana’s strategy to continuously optimize its oil sector. The bidding process is conducted on a lot basis, allowing interested bidders to participate in one or more lots as defined in the bidding documents.

Interested parties can obtain further information by reaching out to [email protected] or visiting the Ministry of Natural Resources at 96 Duke Street, Kingston, Georgetown, Guyana.

The deadline for bid submissions is set for 09:00 hours on Tuesday, October 17, 2023. Bids will be opened in the presence of representatives from interested bidders at the Ministry of Finance, Main & Urquhart Streets, Georgetown, Guyana. Alternatively, bidders can request a video link for remote participation by contacting [email protected].

It’s important to note that the Ministry has emphasized that all late bids will be rejected and returned to bidders unopened.

• Floating Production Storage and Offloading (FPSO), invitation, Liza Destiny, Ministry of Natural Resources (MNR), vessels